Y Combinator's Eric Migicovsky, the inventor of the smartwatch, says a startup's biggest mistake is not clearly explaining what it does. Here's his advice.

· Eric Migicovsky, the founder of failed startup Pebble, helps entrepreneurs avoid his past mistakes as a partner at startup accelerator Y Combinator.
· He shared one of his learnings as an investor in a blog post, telling founders to begin a pitch with a clear and concise description of what their company does.
· Migicovsky...